Technology is changing the way we live, learn, work, socialise and even how we pay for items, which makes merchant credit card services a necessity for many independent businesses to remain competitive and increase sales.
Not only does it make life easier and more convenient for your customers, it also means there’s no waiting around for invoices to be paid, or time-consuming trips to the bank.
Whatever kind of business you have, the number one rule is to listen to what your customers want. Having the most up-to-date payment options is proof that you are keeping up with the way consumer spending habits are changing. The good news for photography businesses is that this shift only points in one direction – increased sales.
So what are the advantages?
Industry figures suggest around half of independent businesses are yet to take the plunge into merchant credit card services, which means they are missing out on a massive £7.5 billion a year. There is an expectation from consumers that card payment is available everywhere and that’s why independent retailers need to make it a priority. For as little as £1 a day the benefits to your business will be significant –
- Grow your business – offering merchant credit card services opens up new sales channels and prevents lost sales opportunities
- Customers are more likely to spend more on higher value items
- It’s proven that accepting card payments increases order size by as much as 40%
- You’ll make fewer trips to the bank to deposit cash and cheques
- It increases security as there will be less cash held on your business premises
- Cleared funds will be in your business account usually within 2-3 working days after the transaction
- It opens up the option to accept card payments over the phone and online
Doncaster based photographer, Louise Prestwich Photography, highlights how merchant credit card services have benefited her business –
“I have used a Handepay mobile card machine for well over a year now which is fantastic when I am attending shows as I can take booking fees by card. I also use it in my busy studio, taking bookings over the phone and face to face. It provides me with a simple payment method that I trust, making my life and my customers’ lives very simple! It’s the perfect solution for my busy studio.”
How do I get started?
In just a few easy steps you can start reaping the benefits of merchant credit card services –
- You’ll need a merchant account with a financial institution (also known as an “acquirer”).
Research charges and overall costs for card processing and card machines – for more information on what to look out for this Free Guide to Accepting Card Payments is really handy.
- Take into consideration the type of card machine that’s best suited to your business needs, whether it’s countertop, portable or a mobile chip and PIN machine, it’s a good idea to familiarise yourself with the options.
- Most applications are processed in a few days and you could be up and running taking card payments within a week or two.
Since over two thirds of consumers say they only shop at businesses with merchant credit card services, can your business really afford to miss out on these sales? The benefits of accepting card payments will far outweigh the cost and happy customers become loyal customers, which makes for repeat business and promotion through word of mouth, a valuable asset to any business.
Benefiting from credit and debit card processing has never been easier. So why wait – start growing your business today!